Where is all the hype? Penny stock forums...
-To maximize your potential of buying a stock that will move, you need to find out what others are trading. The stocks that are hyped up on penny stock forums are usually the ones that the masses buy into. The more buying, the more it will move. This is part of how hot penny stocks "get hot". Simple, right?
To find out what others are doing, you can check out, and become a member to, several different online forums or discussion boards. These are home to thousands of traders discussing a multitude of subjects. By spending a few months actively exploring and reading the forums, you can also expand your working knowledge of penny stock trading by an enormous amount.
Most stock message boards and forums will have separate boards or threads for each company. On InvestorsHub in particular, it is quite rare to find a stock that doesn't have a board created. This doesn't mean that every board has active posters, though. Besides company/stock specific boards you will find a multitude of other boards and categories of boards. There are boards dedicated for trading groups, specific stock price ranges, types of plays (e.g. Reverse Mergers, Low Floats, News, etc), and also boards that are simply for specific informational purposes.
While there are many posters on these boards who you absolutely should not trust or listen to, there are also a lot of good, informative, and successful traders, that are willing to share their advice and stories. Eventually, with a little common sense, you will be better able to differentiate between the good and the bad. Below is a listing of popular online penny stock forums and boards with a short description and our opinion.
Penny Stock Forums and Message Boards:
Investor's Hub (iHub) - Very popular - highly recommended
Yahoo! Finance - Popular for some stocks - recommended
StockHideout.com - Penny stocks, picks, live chat - recommended
Hot Stock Market - Large following and forum - recommended
The Motley Fool - Numerous topics but no free posting - your choice
Silicon Investor - Like IHub but smaller "penny crowd"- your choice
Raging Bull - Not the best online crowd - NOT recommended
What's Next?
So now you know how to find the hottest penny stocks, and where you can see which stocks are getting the most hype. Now what? Now it is time to come up with a penny stock strategy that will help you secure a profit while simultaneously reducing the risk. Please continue...
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